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Luxury Homes of Las Vegas lists highest priced home in the Valley

June 17, 2008

Located in the exclusive community of The Ridges in Summerlin, Luxury Homes of Las Vegas Broker/Owner Kenneth Lowman has just listed a 25,000 square foot build-to-suit luxury home for $27,000,000. This mansion cascades over four levels built onto a hillside lot offering the best view of the Las Vegas strip and entire valley.

Actual View From Homesite

Actual View From Homesite

This mansion includes 7 bedrooms, 13 bathrooms, 7 car garages on three separate levels linked by a serpentine driveway and tunnel, a library, gym, chapel, theatre, wine cellar, storage area, two elevators, pool house and detached 2 bedroom guest house. The home will incorporate floor-to-ceiling glass to maximize views and terraces to enjoy outdoor living. The master bedroom boasts 5,163 square feet of living space on the top level, including a wellness room for the deserving owner. The estate will be enhanced by waterfalls, pools and spas. The Homesite encompasses just under two acres at the highest point in Promontory in The Ridges and sits behind three gates, one of which is guarded. “This will be a rare find for the lucky owner,” Lowman remarked. “The stupendous location, unequalled view, amazing extent of amenities and the quality of finishes will be impossible to duplicate anywhere in the world.”

Aerial Site Map

Aerial Site Map

Kenneth Lowman is familiar with luxury buyers, having sold the highest dollar per square foot home in The Ridges for $1,047 per square foot last year. He has four additional personal sales valued over $5,100,000 in the past eight months with some taking as little as 51 days to sell. “We have quite a demand of high-net worth individuals that want to make Las Vegas their home,” Lowman noted, “and we actually have a shortage of trophy properties in the very best neighborhoods. These buyers don’t seem to care about economic fluctuations. They are very discriminating in their choice and expect near perfection.”

The Greater Las Vegas Association of Realtors Multiple Listing Service reports two other homes with asking prices over $20,000,000. The highest priced home to close recently sold for $17,375,000. “I specialize in this product type and records are made to be broken,” Lowman added. “This estate will have unique, stunning, innovative and luxurious features throughout its design and construction.”

The Ridges is a guard gated village in Summerlin, recently ranked as one of the top guard gated communities to reside in by Forbes.com. Amenities include Club Ridges – a clubhouse with a fitness center, tennis courts, pool and spa, the Red Rock National Conservation Area on the west border of The Ridges, and the Bear’s Best Las Vegas golf course, designed by Jack Nicklaus, that winds throughout the community. The unique location offers elevated views of the world famous Las Vegas Strip as well as city, valley, golf and mountains views.

Lowman sees a bright future for the ultra-luxury market. “The ultra-luxury market has continued to evolve and can now offer a product like it never could before to some of the world’s most affluent buyers. I’m confident we’ll see some more record breaking years here in Las Vegas.” Lowman may be right. According to Merrill Lynch’s World Wealth report published in June 2007, the number of “ultra-high net worth” individuals- those with $30 million or more – increased by 11.3 percent. Also, there are now 9.5 million millionaires worldwide, an 8.3 percent jump from the previous report issued in June 2006.

For additional information, Kenneth Lowman can be reached at klowman@luxuryhomeslv.com or at 702-216-4663.